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Business News/ Markets / Stock Markets/  Rushil Decor share price jumps 8% after expansion of global footprint
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Rushil Decor share price jumps 8% after expansion of global footprint

Rushil Decor share price today opened upside at ₹303.85 apiece on NSE and touched an intraday high of ₹324.50 per share

Rushil Decor Ltd has decided to strengthen its footprint in the South American market through expansion.Premium
Rushil Decor Ltd has decided to strengthen its footprint in the South American market through expansion.

Stock market today: Rushil Decor board has declared to increase its global footprint. As per the exchange filing by Rushil Decor Ltd, the company board has decided to strengthen its footprint in the South American market through expansion. This strategic move is expected to boost the company's revenue and market share, potentially leading to a positive impact on its stock performance. After this stock market news outbreak, Rushil Decor share price witnessed substantial upside since morning. Today, Rushil Decor share price opened upside at 303.85 apiece on NSE and touched an intraday high of 324.50 per share, recording a nearly 8 percent rise against Wednesday's close of 300.45 per share.

Rushil Decor news

Rushil Decor, a company with a global reach, has exciting news to share. We are thrilled to announce our strategic expansion into South America, one of the largest markets for MDF globally. This move is set to open up new avenues of growth and profitability for Rushil Decor, and we are confident that it will be a game-changer for our business.

As a leader in MDF manufacturing in India, Rushil Decor is not just meeting but exceeding expectations. Our recent 9% growth in the January to March 2024 quarter, compared to the same period last year, and the significant contribution of export revenue to our total revenue in the fourth quarter of FY24, are testament to our strong financial performance and international footprint. This expansion into South America is a strategic move that aligns perfectly with the projected growth of the global MDF market, further bolstering our confidence in the future.

At Rushil Decor, we are not just about expansion and growth. We are committed to sustainability and innovation, and this commitment is at the heart of our expansion into South America. This move is a significant milestone for us, as it not only allows us to provide sustainable and high-quality products to new regions but also aligns with the values of the 2024 edition of Interzum Bogota. We believe that these values, which we uphold every day, will resonate with our South American customers and contribute to our long-term success.

Rushil Decor's strategic expansion is part of its vision to achieve annual revenues of 2500 crores by 2029. To achieve this, the company has set specific milestones, such as increasing its market share in South America by [specific_percentage] within the next [specific_number] years and launching [specific_number] new products in the region by [specific_date]. With state-of-the-art manufacturing facilities and a strong distribution network, the company is poised to meet the increasing demands of the global market while maintaining financial stability and operational efficiency.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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Published: 16 May 2024, 12:45 PM IST
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